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170 Kripplebush Road
Stone Ridge, NY 12484
Hayes Clement with BHHS HUDSON VALLEY PROP-KING, original listing - (845) 340-1920
$1,350,000
Conventional
Property
Bedroom
3
Bathroom
Full: 2, ½: 1
Property Type
Conventional
Square ft
1725 Square Feet
Property Description
History and charm in a remarkable setting: The iconic Thomas Chambers House, a circa 1790 stone house nestled in the tranquil hamlet of Kripplebush, just outside the Stone Ridge village center, began life as part of a farm and general store complex, once serving as a gathering place for local men conscripted for the War of 1812. While the store is gone, the house and an antique 3-bay English barn remain, anchoring a stunning 31 acres of prime farmland and light forest criss-crossed by the Kripplebush Creek. The house, featuring unusually tall ceilings and large rooms for a house of the era, has been masterfully restored to expose rich original detail, including hand-hewn beams, milk paint and floors crafted from king boards, some as wide as 17 inches. The gourmet kitchen features soapstone counter tops, stainless-steel appliances and custom cabinetry. A large step-down room right off the kitchen can be used as a dining or living room, and the kitchen also opens to an additional cozy den for relaxation or hosting friends. The main floor also features a half bath. Upstairs are three comfortable bedrooms, including a primary suite, and two full bathrooms, centered on a sunny staircase landing perfect for reading or idling. Outside, the house opens stunningly to a lush flat meadow, with a heated saline in-ground pool at its center, and bordered by 850 feet of the Kripplebush Creek. The expansive acreage, ripe with potential as prime farmland, is mostly open fields, with beautiful views at various elevations. Closer to the house are a lovely 30x40 three-bay English barn partially finished to include twin lofts and exposed beams, plus a separate 14x21 corn crib. Agricultural tax exemptions have been utilized by prior owners of the property, and potentially even greater tax savings might be possible via land-conservation easements on some portion of upper fields
Property Information
Lot Size
31 acre(s) square ft
Property Type
Residential-Single Family Residence
Year Built
1790
MLS Number
--
Location
Address
170 Kripplebush Road
City
Stone Ridge
State
NY
Zip Code
12484
County
ULSTER
Listing
Provider
BHHS HUDSON VALLEY PROP-KING, original listing
Name
Phone
(845) 340-1920
Office Name
Office Phone
(845) 340-1920
Agent Name
Hayes Clement
Agency Phone
(845) 340-1920

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HUD foreclosures and VA Foreclosures are some of the best homes to buy when price is part of the equation. As with most Americans, price is always a concern. If not buying the same house for less, why not buy more house for the same dollar invested? When looking for a good deal it is hard to do better than the VA or HUD foreclosures market. The simple truth is that there are just more VA and HUD homes on the market, as they represent such a large number of mortgages that are generated each year. This translates into more foreclosures just by the magnitude of difference between all others comparing to the two largest. The two largest also being government owned and operated means that they have less time to wait to make money back on the home. The FHA is especially known for selling HUD homes for less than the average sales price in a given area. FHA foreclosures represent a fraction of HUD but they are still a significant number of homes and both should be considered. VA (Veterans Administration) and HUD (Housing and Urban Development) have different and unique opportunities for the buyer. Both are often forgiven for the local taxes normally associated with the purchase of a home (this is on a county by county basis). Be sure to ask the local title company or escrow company to look into it for you before closing as this is often missed due to their are not used to dealing with the 2 to 3 percent of the market that VA and HUD foreclosures represent.

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Foreclosure Listings Increasing

As the market settled after the mortgage meltdown foreclosure listings also settled and fewer homes were on the market with a placard reading “Bank Foreclosure” in big red lettering. This was a good thing for the entire real estate market. Having an abundance of foreclosures brings the entire market down and it makes it harder for home owners, who would like to move, to get the appropriate price for their home as a similar home down the same street was sold for substantially less and the appraiser is using the foreclosure as a comparable sale. This is just one of the problems when there are too many foreclosure listings in any area. Another issue is the television set that sits in everyone’s living room harping about the price of homes based on the number of foreclosures and this constant barrage of negative information makes most people sit on the sidelines waiting for the market to either implode completely or to correct itself. Meanwhile while they wait, others are buying foreclosure listings and making great investments. Whatever the reason, a market can only handle so many foreclosure listings at any given time. The more foreclosures, the lower the market gets and this is a lesson the banks that were foreclosing and selling off realized too late. The market and their investments would have been better off if there had not been a rush to divest themselves of the toxic assets made more toxic by their own actions.